Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against BingX+0.008%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$980.979% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.008%, 7d avg +0.037%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.028% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZK-USDT	0.01178	0.0100	pay 0.0050% / 4h	3h 43m	—	$6.7M	—
Short	Gate ZK_USDT	0.01178	0.0100	get 0.0100% / 8h	7h 43m	$331K	$240K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee GatebpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → +0.037%: −$2.84
Slippage, 4 orders: −$72.87
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$100.71
Costs to cover: 0.979%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Gate: live order book, 27 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 4 min ago	3.82 bp	18.3 bp −$18	50.0 bp −$500	409.0 bp −$40.9K	726.5 bp −$363.3K
Sell Gate live order book, 27 min ago	4.24 bp	29.2 bp −$29	doesn't fit	doesn't fit	doesn't fit

ZK on 17 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZK-USDT-SWAP	−0.0087%	4h	0.01176	−0.136%	$1.0M	$2.4M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.671%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0074%	4h	0.01177	−0.059%	$215K	$22K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01180	+0.161%	$131K	$173K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01179	+0.136%	$599K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01180	+0.153%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01178	+0.008%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01178	+0.001%	$4.8M	$9.7M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01178	−0.017%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDTshort	+0.0100%	8h	0.01178	+0.008%	$331K	$240K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01178	+0.008%	$984K	$1.1M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01177	−0.076%	$1.5M	$865K	75x	as long as short
BingX ZK-USDTlong	+0.0100%	4h	0.01178	long leg	—	$6.7M	—
Variational Omni ZK	+0.0100%	4h	0.01177	−0.088%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01179	+0.120%	$152K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01177	−0.076%	$9K	$627K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1360%	1h	0.01181	+0.274%	$194K	$44K	25x	as long as short